Key Points
- Apple SVP Deirdre O'Brien sold 30,002 shares on April 2 under a pre-arranged Rule 10b5-1 plan, receiving an average of $255.35 per share for a total of $7,661,010.70, reducing her holding by 17.99% to 136,810 shares (~$34.93M).
- Quarterly results: Apple beat expectations on Jan. 29 with $2.84 EPS vs. $2.67 est and revenue of $143.76B vs. $138.25B, a 15.7% year-over-year revenue increase and strong margins.
- Analyst/valuation snapshot: MarketBeat shows a consensus rating of "Moderate Buy" with an average price target of $297.58; the stock trades at a PE of 32.35 and a market cap of about $3.76T, leaving it sensitive to valuation concerns.
Apple Inc. (NASDAQ:AAPL - Get Free Report) SVP Deirdre O'brien sold 30,002 shares of Apple stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the transaction, the senior vice president owned 136,810 shares of the company's stock, valued at $34,934,433.50. This trade represents a 17.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Apple Price Performance
Apple stock opened at $255.92 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.97 and a debt-to-equity ratio of 0.87. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $288.62. The firm has a market cap of $3.76 trillion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 2.42 and a beta of 1.11. The company's 50 day moving average is $260.67 and its two-hundred day moving average is $263.21.
Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The iPhone maker reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.67 by $0.17. The business had revenue of $143.76 billion for the quarter, compared to analyst estimates of $138.25 billion. Apple had a return on equity of 159.94% and a net margin of 27.04%.The company's revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.40 earnings per share. On average, research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Monday, February 9th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, February 9th. Apple's dividend payout ratio (DPR) is presently 13.15%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on AAPL shares. Wedbush reaffirmed an "outperform" rating and issued a $350.00 target price on shares of Apple in a report on Friday, March 27th. JPMorgan Chase & Co. increased their price objective on shares of Apple from $315.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. Morgan Stanley reaffirmed an "overweight" rating and set a $315.00 price objective on shares of Apple in a research report on Monday, March 23rd. Barclays boosted their target price on shares of Apple from $239.00 to $248.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 3rd. Finally, Scotiabank set a $330.00 price target on Apple in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $297.58.
Get Our Latest Analysis on AAPL
More Apple News
Here are the key news stories impacting Apple this week:
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Overbrook Management Corp boosted its stake in shares of Apple by 57.4% during the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock worth $28,449,000 after purchasing an additional 38,174 shares during the last quarter. Monarch Capital Management Inc. raised its position in shares of Apple by 4.6% in the second quarter. Monarch Capital Management Inc. now owns 66,967 shares of the iPhone maker's stock valued at $13,740,000 after buying an additional 2,920 shares during the last quarter. Highland Capital Management LLC lifted its stake in shares of Apple by 2.2% during the third quarter. Highland Capital Management LLC now owns 397,834 shares of the iPhone maker's stock valued at $101,301,000 after buying an additional 8,446 shares during the period. Citizens Financial Group Inc. RI boosted its position in Apple by 48.4% during the third quarter. Citizens Financial Group Inc. RI now owns 1,426,605 shares of the iPhone maker's stock worth $363,256,000 after acquiring an additional 465,393 shares during the last quarter. Finally, Tufton Capital Management boosted its position in Apple by 4.3% during the third quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker's stock worth $25,496,000 after acquiring an additional 4,157 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
About Apple
(
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Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
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